/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
NEW
YORK, Jan. 15, 2025 /CNW/
- MiMedia Holdings Inc. (TSXV: MIM) (OTCQB: MIMDF)
(FSE: KH3) ("MiMedia" or the "Company") is
pleased to announce the closing of its previously announced
non-brokered private placement (the "Offering") of 3,500,000
units of the Company (the "Units") at an issue price of
C$0.25 per Unit, for aggregate gross
proceeds of C$875,000. Each
Unit is comprised of one subordinate voting share in the capital of
the Company (a "Subordinate Voting Share") and one
Subordinate Voting Share purchase warrant (a "Warrant").
Each Warrant entitles the holder thereof to purchase one
Subordinate Voting Share at an exercise price of C$0.25 per share for a period of 18 months
following the closing date of the Offering.
The net proceeds of the Offering will be used for general
corporate purposes in support of ramped up expansion of current
partnerships as well as proposed new agreements.
The Offering remains subject to the final acceptance of the TSX
Venture Exchange. All securities issued pursuant to the
Offering will be subject to a statutory four month hold period from
their date of issuance. No finder's fees were paid by the
Company in connection with the Offering.
None of the securities issued in connection with the Offering
will be registered under the United States Securities Act of 1933,
as amended (the "1933 Act"), and none of them may be offered
or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the 1933 Act. This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy nor shall there be any sale of the securities in any state
where such offer, solicitation, or sale would be unlawful.
About MiMedia
MiMedia Holdings Inc. provides a next-generation consumer cloud
platform that enables all types of personal media to be secured in
the cloud, accessed seamlessly at any time, across all devices and
on all operating systems. The company's platform differentiates
with its rich media experience, robust organization tools, private
sharing capabilities and features that drive content
re-engagement. MiMedia partners with smartphone makers and
telecom carriers globally and provides its partners with recurring
revenue streams, improved customer retention and market
differentiation. The platform services millions of engaged
users around the world.
Notice regarding forward-looking statements:
Certain statements in this press release constitute
forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will"
occur. Forward-looking statements in this press release
include statements regarding: the use of proceeds of the Offering,
the receipt of regulatory approvals and plans for current and new
Company partners. Such forward-looking statements are based
on the current expectations of management of MiMedia. Actual
events and conditions could differ materially from those expressed
or implied in this press release as a result of known and unknown
risk factors and uncertainties affecting MiMedia, including risks
regarding the industry in which MiMedia operates, economic factors,
the equity markets generally and risks associated with growth and
competition. Additional risk factors are also set forth in
the Company's management's discussion and analysis and other
filings available via the System for Electronic Document Analysis
and Retrieval+ (SEDAR+) under the MiMedia's profile at
www.sedarplus.ca. Although MiMedia has attempted to identify
certain factors that could cause actual actions, events or results
to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results to differ from those anticipated, estimated or
intended. No forward-looking statement can be taken as
guaranteed. The forward-looking information contained in this
press release is made as of the date hereof and the Company is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of
the risks, uncertainties and assumptions contained herein, readers
should not place any undue reliance on forward looking
information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE MiMedia
